Boston– October 30, 2017 – Santander US CEO Scott Powell today announced Santander’s “Inclusive Communities” plan, the Bank’s new $11 billion agreement with the National Community Reinvestment Coalition (NCRC) to increase lending, community development, and charitable giving. “Inclusive Communities” was developed with significant input from and collaboration with more than 100 community-based organizations, including MAHA leaders Esther Maycock Dupie, Symone Crawford and many others.

The plan outlines Santander’s commitment to communities across its eight-state northeastern U.S. footprint for 2017 through 2021, during which time Santander will increase its Community Reinvestment Act (CRA) activity by 50 percent and triple its investment in charitable grants. Supported and facilitated by the NCRC, an extensive ten-month long process helped identify emerging community needs and strategies aimed at addressing the challenges faced by underserved communities in Santander’s key markets.

Over the next five years, Santander will provide:•$9.1 billion in lending to underserved communities including, - $4.2 billion in residential mortgage loans for low- to moderate income families - $1.9 billion in small business lending - $3 billion in community development lending•$1.9 billion in community development investments•$55 million in charitable contributions•10 new retail branches in low- to moderate income and communities of color•60,000 community development volunteer hours in underserved communities

“This plan is the foundation of Santander’s approach to supporting the communities where we live and work,” said Powell, CEO of Santander US, the Bank’s U.S. holding company. “We recognize that Santander’s success is directly linked to the prosperity of our communities’ families, businesses and neighborhoods. By increasing lending, investments and financial education opportunities, we hope to boost the long-term economic success of low- and moderate-income individuals and neighborhoods.”

"MAHA looks forward to continuing our partnership with Santander in reaching low- and moderate-income first-time homebuyers as we both seek to close the large racial wealth gap in Massachusetts", remarked Symone Crawford, MAHA's board president. The agreement includes a recommitment to the Massachusetts Housing Partnership's ONE Mortgage Program which will be announced at MAHA's annual meeting on December 11th.

“This is an exciting and groundbreaking agreement that will improve our communities and transform lives. It demonstrates that banks and the communities they serve can thrive together when they work together. We congratulate Santander, NCRC, and the dozens of community based groups who worked so hard to make this happen,” said Joseph Kriesberg, President & CEO, Massachusetts Association of Community Development Corporations.

Powell announced “Inclusive Communities” at a meeting this morning in downtown Boston where he was joined by officials from the City of Boston, other public officials, and National Community Reinvestment Coalition (NCRC) President and CEO John Taylor.

"This is a good day for people in New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware and my home state of Massachusetts,” said John Taylor, NCRC President and CEO. I want to applaud Santander for committing 11 billion in investments for underserved neighborhoods over the next five years. Santander’s leadership showed a special dedication to working with community leaders and better understanding the credit needs in the areas they serve. We are very pleased that this commitment, and especially the 10 new bank branches, will help individuals build wealth and neighborhoods build their economies."

The Bank is also establishing statewide/regional advisory boards in its footprint to ensure ongoing community input and will be enhancing its current Community Development and CRA teams with the addition of 17 new positions in the coming years.